Ken Chigbo
Independent Analyst
- Litecoin price is trading in negative territory by 0.30 % in the session on Friday.
- LTC/USD pressure is back on to the downside, after the exponential gains on Thursday.
- The next major area of support will be eyed back down at the $40 mark.
LTC/USD daily chart
Price action has retested a breached bear flag and has so far been dealt a rejection, leaving the door open to another drop.
LTC/USD 60-minute chart
Given the current price behaviour, there is a risk of a reversal of the gains made in the period session. Bears broke out of a narrowing triangular structure to the downside.
Spot rate: 42.04
Relative change: -4.35%
High: 42.79
Low: 41.67
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